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BUSINESS IN BRIEF 3/5

 Petrolimex appoints new chairman, New enterprises up 80% in April, Wood exports can help 2018 target, Vietcombank plans to raise capital by 10%, Inundating losses may force Ha Bac Fertiliser out of business

Vietnam vows to build smart cities despite huge challenges

VietNamNet Bridge - Vietnam targets building at least three smart cities in 2017-2020. But to reach that goal, it needs to have better infrastructure, more money and a more qualified workforce.

Investing M&A Outbound Investment 30 years of FDI

 A number of international logistics groups are focusing on green investment in Vietnam to expand sustainably and cash in on the robust growth of e-commerce.

Investors pour money into preserving medicinal herbs

Tu Mo Rong district in Kon Tum province is famous for ginseng, or hong dang sam, and Codonopsis pilosula, a medicinal herb called "the ginseng of the poor", as it is cheap and effective in disease treatment.

University spin-offs difficult to establish because of outdated thinking

VietNamNet Bridge - While university “spin-offs” occur in developed countries, it remains an unfamiliar concept in Vietnam.

Rise of eBooks leaves book publishing industry needing to refresh the page

 The fourth industrial revolution, or Industry 4.0, has brought about fundamental changes in various fields, including the book publishing industry. 

Profit figures mark significant impact of digital transformation

 Companies that embrace digital transformation are up to 26 per cent more profitable than their competitors and enjoy up to 12 per cent higher market valuation, according to a recent survey by ManpowerGroup.

Agribank confirms: only 12 accounts hacked

 Agribank denied the rumours that 400 accounts had been hacked, saying only 12 accounts were affected and three of them have been reimbursed.

Formosa conspicuously missing from MoNRE investigation plan

 Taiwan-based Formosa Group, which caused the largest environmental damage in 2016, is surprisingly not on the Ministry of Natural Resources and Environment (MoNRE)’s list of enterprises and industrial zones to be inspected this year.

Despite huge revenues, Facebook and Google pay tiny tax in Vietnam

 Despite making billions of dollars in revenue, two giant technology brands Facebook and Google only paid miniscule taxes to the Vietnamese government.

Motorbike labelling debated

 A new draft circular proposes that all new motorbikes imported into or manufactured in Vietnam must be stamped with energy certificates such as the ones found on most electronic appliances.

How your diet could influence the age of your menopause

 A diet high in carbs could bring on an earlier menopause, a study suggests. Eating lots of pasta and rice was associated with reaching menopause one-and-a-half years earlier than the average age of women in the UK of 51.

Ambassador Nguyen Hong Thao elected as ILC Vice Chairman

 Vietnamese Ambassador Nguyen Hong Thao has been elected as the Second Vice Chairman of the United Nations International Law Commission (ILC) during the commission’s 70th session in New York, the US.

Hanoi to recover narrow and tiny houses for public use

 Hanoi authorities have ordered a review and possible seizure of super tiny and narrow houses for public use such as gardens.

Experts call for corruption probe into cheap public land transaction

 Several economic experts have raised doubts over possible corruption in the selling of 32 hectares of public land in HCM City.

Youth learn about history through cai luong dramas

 VietNamNet Bridge – Historical plays staged by cai luong (reformed opera) artists are fueling love for the country and a new patriotic fervour among young and old audiences alike.

SMEs’ access to credit: Better, but not enough

 Small- and medium-sized enterprises (SMEs) have been highly conducive to economic development in Vietnam as they significantly contribute to job creation, export promotion, growth generation and poverty reduction. 

Vietnamese documentary wins at Top Shorts film festival

 A documentary about the ceramic art of Nguyen Thu Thuy won two prizes at the Top Shorts online film festival, the organiser announced recently on its website.

IBM promotes new Cloud Private technology in VN

 IBM has begun promoting its new technology, IBM Cloud Private (ICP), in Viet Nam after it was introduced in October 2017 and is now being used by 150 customers worldwide.

Bottom-fishing expected to lift up market

 The market seems to be finding its bottom soon, offering investors opportunities to accumulate stocks, helping the indices rebound from a drop last week.